Martinos family company Thenamaris has completed its first bulker purchase since 2016, but at a much reduced scale than initially envisaged.

The 180,100-dwt capesize Tiger Guangdong (built 2011) has joined Thenamaris under its new name Sealeader II, according to a posting on the Greek company’s website earlier this week.

This is just one of a quartet of similar ships being sold by China’s Greathorse International that Thenamaris had tied up on subjects in early November in a potential $64m deal.

TradeWinds understands that Thenamaris will not take delivery of the other three ships — the 180,100-dwt Tiger Jiangsu (built 2010), Tiger Shandong and Tiger Liaoning (both built 2011).

According to shipping sources in Athens, the Tiger Jiangsu has been slated for online auction by a Chinese bank on 12 January.

The fate of the Tiger Shandong and Tiger Liaoning is unclear. Vessel trackers show both vessels trading in Far Eastern waters between China and Australia.

TradeWinds was told in November that any deal for the vessels was being handled by the Tiger Group, Greathorse’s Hong Kong-based parent.

Maersk Broker Hong Kong and Arrow Hong Kong are acting as co-exclusive brokers. Banks are involved in sale efforts as well.

Capesize buying by major Greek owners has intensified in recent months as economic gloom and a steady offer of tonnage out of the Far East has pushed secondhand prices down to tempting levels.

Clients of Piraeus-based Spring Marine Bulk emerged earlier this month as the new owners of the 180,300-dwt Aqua Vision (renamed Aipos, built 2011), Noble Group’s last owned ship.

Other notable buyers include the Moundreas family — who have bought four capesizes since July — Tsakos Shipping & Trading and Theodore Veniamis-led Golden Union.

Tricky sales

Sales of capesizes by Greek owners, in contrast, has been much less frequent.

Stamatis Molaris company Empire Bulkers is said to have offloaded the 175,000-dwt Cape Elise (built 2005) to Chinese interests earlier this week for $10.5m.

Molaris bought the vessel ten years ago, when it was named China Venture, for about $53.5m.

As TradeWinds reported earlier this week, Carras (Hellas) is seeking to offload another 17-year-old capesize.

European brokers said the company is offering the 171,000-dwt Aquabreeze (built 2003) for sale, just a few months after it offloaded sistership Aquaglory (renamed Xin Chun, built 2003) to Jiangsu Huaxi Ship Management of China for about $9.5m.

Selling capesizes to China, however, can be tricky, as Alpha Bulkers has found out.

Earlier this month, the Greek company saw its 170,400-dwt Alpha Era (built 2000) arrested by a would-be Chinese buyer after their deal failed as a side effect of China’s de facto ban on Australian coal imports.

The vessel had been at anchor for six months waiting to be permitted to discharge and Alpha is understood to have been one of several shipowners to file lawsuits against Chinese charterers for unpaid hire during the idle period.